The State Bank of India (SBI), country’s largest lender, slashed its lending rates by 50 basis points, bringing much-needed relief to both existing and new borrowers.With this revision, SBI’s repo linked lending rate (RLLR) now stands at 7.75 per cent, while its external benchmark based lending rate (EBLR) dropped to 8.15 per cent from 8.65…
Federal student loan borrowers are temporarily unable to apply to income-driven repayment plans, a decades-old safety net that ties their monthly loan payment size to household income levels, as the U.S. Education Department reviews a recent federal court ruling. The department closed applications to the repayment plans last week after the U.S. Court of Appeals…
A federal judge in Maryland has issued a temporary restraining order halting officials from tech billionaire Elon Musk’s controversial Department of Government Efficiency (DOGE) from accessing sensitive student loan borrower data. The ruling delivered by Judge Deborah Boardman on Monday bars the US Department of Education and the Office of Personnel Management from sharing the…
The Education Department announced on Monday that it had canceled student loans for more than 150,000 borrowers, bringing the tally of Americans whose loans were forgiven under President Biden to over five million. The Biden administration reached the milestone even though many of its more ambitious plans to overhaul the nation’s system for administering student…
PAYE vs ICR: Pursuing higher education in the United States is often a financial challenge due to the high cost of tuition and associated fees. For many students, taking out federal student loans is the only feasible way to fund their education. However, once they graduate, the challenge of repaying these loans begins, often leading…
People walk past the John Harvard statue in Harvard University , Cambridge, Mass. (AP Photo) Plans Scrapped: Biden administration cancels two major initiatives: The year 2024 has been tumultuous for US student loan borrowers in the, marked by notable shifts and lingering uncertainties. From the end of the long-standing payment pause to rising interest rates,…
NEW DELHI: The Unified Payments Interface (UPI), since its launch in 2016, has vastly transformed financial access in the country, enabling 300 million individuals and 50 million merchants to perform seamless digital transactions, and till October last year, 75% of all retail digital payments in India were made through UPI, according to a research paper…